Jewelry insurance

posted 12 months ago in Rings
Post # 16
Member
306 posts
Helper bee
  • Wedding: February 2018

Teekay6718 :  My diamond ring is insured with Jewelers Mutual.. we pay $104 a year for $11,000 appraised coverage on my engagement ring. 

I recently had to have some stones in my pave band tightened, and JM cut me a check in literally an hour, once I submitted to them the paid receipt for the work.  I know you can go to them directly so they can pay for needed repairs, but I chose to get the service done and get reimbursed. And I mean to say they paid me immediatly, no questions asked. 

My homeowners is through Allstate and the rider would have cost an arm and 2 legs! JM is worth it! And I get a discount for having an alarm and a safe at home.

Post # 17
Member
735 posts
Busy bee
  • Wedding: July 2018

We have all three of my rings insured with Lavaleir (sp?) and they’ve been amazing! Any time I’ve ever had to make a claim we’ve had the check in two or three days. For all three of my rings it is $115 per year. It has more than paid for itself with two small claims. 

Post # 18
Member
990 posts
Busy bee
  • Wedding: April 2008

I have jewelers mutual they seem to have the best policy and they are fairly priced . 

Post # 19
Member
72 posts
Worker bee

heatdisneybride and @Teekay6718

 

Hello bees! Just wanted to update the thread since I’ve just finished with my insurance claim. Everything was super easy with Jewelers Mutual. My claim specialist was very responsive (within 24 hours). Their generic inbox takes more like 1-2 business days to receive a reply. 

 

Anywho – I have reinsured my new ring with Jewelers Mutual. Super easy – Just needed to call so they could make the updates to my policy. Paying $57 a year for $3800.00 USD coverage, no deductible. 

 

I would highly recommend Jewelers Mutual to anyone looking for insurance. I’ll be helping my sister fill out the insurance application for her engagement ring soon enough!! 

Post # 20
Member
684 posts
Busy bee

beebee147 :  

sorry I have a question, so how does the insurance company decide the value of your ring? Obviously not how much you paid for the ring right?

Post # 21
Member
34 posts
Newbee

mrssam :  I just got a policy with Jeweler’s Mutual. If you don’t have an appraisal, you’ll need to upload a copy of the receipt. 

 

Post # 23
Member
34 posts
Newbee

mrssam :  I googled more last night, but fell asleep before editing my response 🙂 It varies from company to company, but Jeweler’s Mutual doesn’t just cut a check if you have a claim. They directly pay the jeweler you choose for your ring to be repaired/replaced, up to the dollar amount listed on your documentation. It’s probably better to insure at the higher appraised amount, since the insurance is so inexpensive. 

https://www.jewelersmutual.com/jewelry-insurance-policy-information

Post # 24
Member
684 posts
Busy bee

Thanks for the information! 😃geauxgirl :  

Post # 25
Member
306 posts
Helper bee
  • Wedding: February 2018

mrssam :  You most certainly can use the receipts to show value.. or an appraisal. JM will use either one.

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